Economy, asked by riyashelar868, 2 months ago

4. State with reasons whether you agree or disagree with the following statements:
(1) A seller is a price taker in monopoly,​

Answers

Answered by chettiarreenasherlin
1

Answer:

Mono' means single and poly means 'seller'. Thus monopoly means single seller who has complete control over the supply of the commodity. ... Due to the absence of competition, monopolist is price maker and not a price taker. Agree

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